@unemployed wrote:
I know 1.5% isn't exorbitant compared to what payment processors across the world charge. But that 1.5% is preventing many businesses from adopting online payment for goods and services.
A lot of our clients have been requesting this but they are unwilling to pay that much. From our survey our clients and their customers would be willing to pay about N500 per transaction, as that is about the amount they spend on transportation going to a bank. Our clients typically receive payments of over N100k per transaction, meaning by Paystack rates they have to pay N1600.
Why do payment gateways charge this much? And what are the chances of these rates coming down anytime soon?
PS: I used Paystack as they're my favourite. But pretty much all payment gateways charge about the same rates.
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